Aigen Investment Management LP Sells 2,223 Shares of Carvana Co. $CVNA

Key Points

• Aigen Investment Management LP reduced its stake in Carvana Co. by 59.2% during the first quarter, holding 1,535 shares valued at approximately $321,000 after selling 2,223 shares.
• Major shareholder Ernest C. Garcia II sold 50,000 shares for around $17.23 million, while CEO Ernest C. Garcia III sold 10,000 shares worth approximately $3.48 million.
• Recent analyst reports show Carvana with a mix of ratings, including 13 buy ratings and an average price target of $383.47, indicating a consensus of "Moderate Buy."

Aigen Investment Management LP decreased its position in Carvana Co. (NYSE:CVNA - Free Report) by 59.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,535 shares of the company's stock after selling 2,223 shares during the quarter. Aigen Investment Management LP's holdings in Carvana were worth $321,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CVNA. J.Safra Asset Management Corp boosted its stake in shares of Carvana by 140.8% during the 1st quarter. J.Safra Asset Management Corp now owns 3,390 shares of the company's stock worth $709,000 after acquiring an additional 1,982 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in shares of Carvana during the fourth quarter valued at $51,091,000. Farther Finance Advisors LLC boosted its position in shares of Carvana by 333.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock valued at $740,000 after purchasing an additional 2,678 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Carvana in the 4th quarter valued at $36,527,000. Finally, Brucke Financial Inc. purchased a new position in Carvana in the 4th quarter worth about $415,000. Institutional investors and hedge funds own 56.71% of the company's stock.

Insider Activity at Carvana

In related news, major shareholder Ernest C. Garcia II sold 95,087 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $349.09, for a total value of $33,193,920.83. Following the transaction, the insider directly owned 34,442,317 shares in the company, valued at approximately $12,023,468,441.53. This trade represents a 0.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $348.47, for a total transaction of $3,484,700.00. Following the transaction, the chief executive officer directly owned 546,440 shares of the company's stock, valued at approximately $190,417,946.80. This represents a 1.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,026,140 shares of company stock valued at $1,053,229,671. Corporate insiders own 16.36% of the company's stock.

Analyst Upgrades and Downgrades

CVNA has been the subject of a number of analyst reports. Wedbush raised shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. DA Davidson boosted their price target on shares of Carvana from $260.00 to $380.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Wells Fargo & Company raised their price objective on shares of Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Robert W. Baird boosted their target price on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, William Blair restated an "outperform" rating on shares of Carvana in a report on Wednesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $383.47.

Carvana Stock Up 3.0%

Shares of Carvana stock traded up $10.56 during midday trading on Monday, reaching $360.55. 1,835,187 shares of the company's stock traded hands, compared to its average volume of 4,157,637. The company has a debt-to-equity ratio of 2.51, a quick ratio of 2.58 and a current ratio of 4.00. Carvana Co. has a 52 week low of $124.39 and a 52 week high of $413.33. The company's 50 day simple moving average is $337.99 and its 200 day simple moving average is $275.89. The company has a market cap of $77.59 billion, a price-to-earnings ratio of 90.36, a price-to-earnings-growth ratio of 1.16 and a beta of 3.57.

Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%. The business's revenue was up 41.9% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. Equities analysts expect that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Carvana Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.